The volatility and unpredictability in global markets may have caused challenges for many industries, including woodworking, but offered opportunities to agile businesses, according to experts.
Wood exports to the U.S are declining due to inflation, hindering the growth of the wood industry in the second half of this year.
Small- and medium-sized enterprises (SMEs) in Vietnam are almost too frail to weather difficulties, the Ministry of Planning and Investment said in a recent report.
US and EU continuing to experience high inflation and slowing real estate markets.
Vietnamese wooden products exporters are expected to face uncertainties until the end of this year due to falling consumer demand in some major markets, according to VNDirect Securities Corporation.
Many wood artisans are in need of support so that their works can get recognition in the global supply chain.
Experts liken that Vietnam’s furniture manufacturing and exporting industry is walking with “one leg” when it has advantages in production but is weak in trade promotion and sales. It’s time to promote trade promotion activities in this industry if you don’t want to miss the golden opportunities from the shift of international orders after the Covid-19 epidemic.
The Ministry of Industry and Trade has decided to impose official anti-dumping duties on certain table and chair products from China.
The Vietnamese booths, featuring interior and exterior wooden and home décor products, handicrafts, hotel furniture, and lighting equipment, attracted many UK wholesalers and retailers, as well as visitors.
Aiming to be one of the world’s leading processing centers of export timber, Việt Nam is striving to establish legal timber, where raw materials are legally sourced and traded throughout the entire value chain.